Amgen Inc. (NASDAQ:AMGN) Receives $314.91 Average Price Target from Brokerages

Shares of Amgen Inc. (NASDAQ:AMGN) have earned a consensus recommendation of “Hold” from the twenty-three analysts that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, ten have given a hold recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $310.57.

A number of research firms recently issued reports on AMGN. Piper Sandler Companies reaffirmed an “overweight” rating and issued a $310.00 target price on shares of Amgen in a research note on Thursday, January 2nd. Piper Sandler increased their price objective on Amgen from $310.00 to $329.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Royal Bank of Canada reissued an “outperform” rating and issued a $324.00 target price on shares of Amgen in a research note on Friday, January 24th. Cantor Fitzgerald initiated coverage on shares of Amgen in a research note on Tuesday. They set a “neutral” rating and a $305.00 price target on the stock. Finally, Johnson Rice set a $294.00 price objective on shares of Amgen in a research report on Wednesday, March 5th.

Amgen Trading Up 1.7 %

Shares of AMGN stock opened at $278.40 on Wednesday. Amgen has a fifty-two week low of $253.30 and a fifty-two week high of $346.85. The company has a quick ratio of 0.95, a current ratio of 1.26 and a debt-to-equity ratio of 9.62. The business has a fifty day simple moving average of $302.25 and a 200-day simple moving average of $293.45. The stock has a market cap of $149.68 billion, a P/E ratio of 36.87, a P/E/G ratio of 2.63 and a beta of 0.59.

Amgen (NASDAQ:AMGN) last announced its earnings results on Tuesday, February 4th. The medical research company reported $5.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.04 by $0.27. Amgen had a net margin of 12.24% and a return on equity of 176.32%. On average, analysts forecast that Amgen will post 20.62 earnings per share for the current fiscal year.

Amgen Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 16th will be given a dividend of $2.38 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $9.52 dividend on an annualized basis and a yield of 3.42%. Amgen’s dividend payout ratio (DPR) is 126.09%.

Insiders Place Their Bets

In other news, SVP Nancy A. Grygiel sold 1,589 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $304.47, for a total value of $483,802.83. Following the completion of the sale, the senior vice president now owns 7,210 shares of the company’s stock, valued at $2,195,228.70. This represents a 18.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David M. Reese sold 25,225 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $304.44, for a total value of $7,679,499.00. Following the sale, the executive vice president now owns 36,922 shares in the company, valued at approximately $11,240,533.68. The trade was a 40.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,341 shares of company stock worth $20,644,335 over the last ninety days. 0.69% of the stock is owned by company insiders.

Institutional Trading of Amgen

Several large investors have recently bought and sold shares of AMGN. Centricity Wealth Management LLC acquired a new position in Amgen in the 4th quarter worth $25,000. Pinney & Scofield Inc. purchased a new position in Amgen in the fourth quarter valued at about $26,000. Ritter Daniher Financial Advisory LLC DE grew its stake in Amgen by 66.2% during the 4th quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the medical research company’s stock valued at $33,000 after purchasing an additional 51 shares in the last quarter. Synergy Investment Management LLC purchased a new stake in Amgen during the 4th quarter worth approximately $34,000. Finally, Atala Financial Inc acquired a new position in shares of Amgen in the 4th quarter valued at approximately $34,000. Institutional investors and hedge funds own 76.50% of the company’s stock.

About Amgen

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.